Waqf, an integral institution in Islamic finance, plays a pivotal role in socio-economic development, providing essential services in areas such as education, healthcare, and poverty alleviation. This article examines real-life waqf models from Turkiye, Malaysia, and Indonesia, highlighting their contributions to social welfare through modern adaptations, including cash waqf initiatives. In Uzbekistan, the waqf sector is currently overseen by the Waqf Public Charitable Foundation, which manages waqf properties and donations collected at religious sites. This study analyzes Uzbekistan's waqf governance, reviews successful global waqf models, and offers practical recommendations for enhancing the waqf sector's socio-economic impact in the country, with a particular focus on cash waqf potential.